Nokia has revised its full-year profit forecast downwards due to a slower-than-expected recovery in sales. The Finnish telecom company announced that its comparable operating profit for the year is likely to be at the lower end of its previous guidance range of €2.3 billion to €2.9 billion ($2.5 billion to $3.15 billion). Initially, the company had suggested that the profit might be near or slightly below the midpoint of this range.
The company has not provided specific guidance on group sales but has lowered sales growth expectations for all its business units. This adjustment comes as the anticipated recovery in net sales is taking longer than previously expected.
The company's CEO noted that improvements in profit margins and swift cost-cutting measures have partially mitigated the impact of the delayed sales recovery.
